PROVIDENT FUND
This query is : Resolved
09 January 2009
please clarify my provident fund (PF) doubts.
1) what is the maximum and minimum contribution that has to be done by employer?
2) if offer letter shows 25000 as basic, can the employer say 6500 will be consdiered as basic for PF contribution by employer? I mean here offer letter shows one basic and employer is considering small amount for his PF contribution.
Thanks & Regards
Ranganath
1) what is the maximum and minimum contribution that has to be done by employer?
2) if offer letter shows 25000 as basic, can the employer say 6500 will be consdiered as basic for PF contribution by employer? I mean here offer letter shows one basic and employer is considering small amount for his PF contribution.
Thanks & Regards
Ranganath
10 January 2009
Provident Fund:(Employer & Employee)
Statutory rate of contribution is 12% of emoluments (basic wages, dearness allowance, cash value of food concession and retaining allowances if any,)
Also, the employer is justified in paying PF on Rs. 6500 only.
Statutory rate of contribution is 12% of emoluments (basic wages, dearness allowance, cash value of food concession and retaining allowances if any,)
Also, the employer is justified in paying PF on Rs. 6500 only.
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